Tuesday 25 October 2016

The silicon docks dweller: 'I like the flexibility and the freedom'

Published 14/02/2016 | 02:30

Manners Oshafi
Manners Oshafi

Software engineer ­Manners Oshafi (27) rents an ­apartment with his brother and sister in the Grand Canal Docks area of Dublin.

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'I've lived here for just under a year, and I rent because I don't currently have a strong interest in investing in property. It's a beautiful place, and I enjoy the hustle and bustle in the day time and the dramatic stillness of the area at night. I love the modern landscape, the views and the general vibe of the Silicon Docks.

Proximity to work is important for me too; it's about a 30-minute commute to work now, but previously it would have only been 10 or 15 minutes.

Renting suits my needs right now; I like the flexibility of the location, the freedom from a long contract and it's cheaper than a mortgage in the short term when you consider taxes and maintenance costs. I also like the included amenities - the security and handyman aspect. The cons are the restrictions of landlords and letting agents, and the possibility of rent rising. In the long term, all rent payments amount only to a service rather than a tangible investment.

So for me, it's just a ­temporary solution. The plan is to own one or even multiple properties someday; I guess another upside to renting is that it allows me to focus my investments in other markets now and look into property later.

My tips for happy renting would be to make multiple viewing appointments before signing on the dotted line, and make sure you're fully informed of what your rent covers."

Sunday Independent

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